2,171 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Purchased by Comprehensive Financial Planning Inc. PA

Comprehensive Financial Planning Inc. PA bought a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,171 shares of the company’s stock, valued at approximately $146,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Credo Technology Group by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company’s stock worth $404,797,000 after acquiring an additional 909,578 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Credo Technology Group by 73.6% in the third quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company’s stock valued at $120,627,000 after purchasing an additional 1,660,230 shares in the last quarter. Swedbank AB raised its position in shares of Credo Technology Group by 873.9% during the 3rd quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock valued at $101,650,000 after buying an additional 2,961,454 shares in the last quarter. Geode Capital Management LLC lifted its stake in Credo Technology Group by 5.7% during the third quarter. Geode Capital Management LLC now owns 3,176,796 shares of the company’s stock worth $97,865,000 after purchasing an additional 170,412 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Credo Technology Group by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock worth $88,188,000 after buying an additional 705,512 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 143,880 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $67.65, for a total value of $9,733,482.00. Following the transaction, the chief executive officer now directly owns 2,370,858 shares in the company, valued at $160,388,543.70. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Yat Tung Lam sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $68.03, for a total value of $6,803,000.00. Following the completion of the transaction, the chief operating officer now owns 400,000 shares of the company’s stock, valued at $27,212,000. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,305,679 shares of company stock worth $89,862,242 in the last three months. 16.04% of the stock is currently owned by company insiders.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $77.28 on Monday. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of -515.20 and a beta of 2.09. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69. The business’s fifty day moving average price is $71.46 and its 200-day moving average price is $47.66.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC upped their price target on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Barclays increased their target price on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Bank of America raised shares of Credo Technology Group from an “underperform” rating to a “buy” rating and lifted their price target for the company from $27.00 to $80.00 in a research report on Tuesday, December 3rd. Finally, TD Cowen increased their target price on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.40.

Credo Technology Group Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.